How the accounts of Caltagirone Editore cry
Early retirements, falling revenues, negative operating result, loss of over 44 million euros. These are some of the aspects that emerge from the 2020 budget of Caltagirone Editore approved yesterday by the assembly. All the details (with the latest news at the top)
Burst of early retirement, falling revenues, loss of over 44 million euros.
These are some of the aspects that emerge from the 2020 budget of Caltagirone Editore, a company that publishes, among others, the newspapers Il Messaggero, Il Mattino, Il Gazzettino, Leggo, and the Quotidiano di Lecce, Brindisi and Taranto.
Here are all the details.
THE ACCOUNTS OF CALTAGIRONE EDITORE
The 2020 financial statements , unanimously approved yesterday, show revenues down to 119.9 million (135.9 million in 2019) and a loss of 44.277 million after the writedown of intangible assets with an indefinite life for 57.4 million. The economic result in 2019 was negative for 30.6 million euros.
THE OPERATING RESULT
The operating result of the company Caltagirone Editore was negative for 59.6 million euros (negative for 45.6 million euros at 31 December 2019) and includes the writedowns of intangible assets with an indefinite life for 57.4 million euros (39, 8 million euros in 2019), depreciation of 6.7 million euros (6.3 million euros at 31 December 2019), provisions for risks of 118 thousand euros (1.3 million euros at 31 December 2019) and the write-down of receivables for 914 thousand euros (691 thousand euros at 31 December 2019).
STAFF COSTS
Caltagirone Editore in the 2020 budget has included 4.2 million recurring charges among personnel costs and, in response to the written question of the shareholder Giacomelli – noted the Radiocor-Sole 24 Ore agency – which asks for clarification for the assembly of the budget that took place yesterday, answers and details the figure which includes: "1 million for redundancy incentives, 800 thousand for job losses and 2.4 million for the allocation of mathematical reserves for the early retirement of about 24 journalists in the 24 months following the date of signing of the agreement ".
THE RESPONSE OF CALTAGIRONE EDITORE
Caltagirone Editore in the reply adds that he does not have “employees with a printing contract” and that any effects on the 2021 budget are not foreseeable at the moment. Caltagirone Editore adds that it is not yet able to assess the effect on the group's accounts deriving from the agreement signed between Google and the publishers for the remuneration of journalistic content .
PRE-RETIREMENTS
Early retirements in the group concern in particular the newspaper Il Messaggero where an agreement was reached, in June 2020, which provides for the early exit of twenty journalists over the two-year period. The publishing group headed by Francesco Gaetano Caltagirone has six newspapers, 32 local editorial offices and 611 employees.
REMUNERATION OF TOP MANAGERS
Green light from the shareholders' meeting also to the report on remuneration and remuneration paid in 2020 among which stand out – underlined Gerardo Graziola of the Radiocor-Sole 24 Ore agency – the 580 thousand euros paid to the vice president, Azzurra Caltagirone, for "remuneration from subsidiaries and associates "in addition to the 50 thousand euros of remuneration for Caltagirone Editore spa. The CEO of the group, Albino Majore, got just over 400 thousand euros.
APPOINTMENTS OF THE BOARD
The new Board of Directors of Caltagirone Editore, designated yesterday by the company's assembly, today appointed Azzurra Caltagirone as president (thus replacing Francesco Gianni) and Alessandro Caltagirone and Francesco Caltagirone jr as vice-presidents, conferring the relative powers.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/come-piangono-i-conti-di-caltagirone-editore/ on Tue, 27 Apr 2021 09:49:56 +0000.